Oct 31, 2024 | Corporate Insolvency
In this edition of IN FOCUS we consider the capacity of the ATO to take security obligations with respect to taxpayers payment. Unlike trade suppliers the ATO is not in a position to decline credit. A taxpayer can voluntarily furnish security to the ATO to secure...
Oct 29, 2024 | Corporate Insolvency
Richard Albarran, Kathleen Vouris, Cameron Shaw and Marcus Watters were appointed Administrators of the following One Key Resources Group Companies on Monday, 28 October 2024 pursuant to Section 436A of the Corporations Act 2001 (“the Act”) by a resolution of the Sole...
Oct 28, 2024 | Corporate Insolvency
As part of our IN FOCUS series with respect to ATO arrears, we consider debt deferral. Section 255-10 of Schedule 1 of the Taxation Administration Act (TAA) enables the Commissioner to defer the time for payment of a tax related liability having regard to the...
Oct 27, 2024 | Corporate Insolvency
On 24 October 2024 the Honourable Justice Cobby of the Supreme Court of Western Australia made Orders that Multiplex Constructions Pty Ltd pay into Court the amounts held by it in relation to the agreements made between Multiplex Constructions Pty Ltd, Hanson...
Oct 24, 2024 | Corporate Insolvency
In the current climate of increased ATO enforcement activity one of the first strategies that accountants and advisors dust off is to negotiate a payment arrangement/plan to address ATO arrears. Whilst such an approach does have the effect of alleviating cash flow...
Oct 17, 2024 | Corporate Insolvency
Accountants and financial advisors often consider payment arrangements when attempting to assist clients who are unable to discharge their ATO payment obligations in full as and when they fall due. In this edition of In Focus, we address the considerations the ATO...
